Fractional Vice President of Sales
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What is a Fractional VP of Sales?
A VP of sales, or Vice President of Sales, is a senior executive in a company who is responsible for overseeing the sales department and driving revenue growth. They are typically a member of the company’s leadership team and report directly to the CEO or other top executives.
Your Fractional VP of Sales Can Help With
- Executing sales strategy
- Managing sales team
- Setting sales targets
- Creating sales comp plan
- Managing sales managers
- Assisting with sales cycles
- Work with other company departments
- Provide strategic sales leadership and management
- Improve performance of sales organization
Other names for Fractional VP of Sales
- Fractional Vice President of Sales
- Fractional CRO
- Fractional Sales Manager
- Fractional SVP or Senior Vice President of Sales
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TABLE OF CONTENTS
A VP of Sales is responsible for overseeing the sales department of a company and driving revenue growth. Their specific responsibilities may vary depending on the organization, but generally, their duties include:
Developing and executing a sales strategy: A VP of Sales is responsible for creating and implementing a sales strategy that aligns with the overall business objectives of the company.
Setting sales targets and goals: The VP of Sales establishes sales targets and goals for the sales team, and monitors progress towards achieving them.
Managing the sales team: The VP of Sales manages the sales team, including hiring, training, and coaching sales representatives, and setting performance expectations.
Building relationships with customers and clients: The VP of Sales works to build relationships with key customers and clients, ensuring that they are satisfied with the company's products and services.
Analyzing market trends and competitive activity: The VP of Sales analyzes market trends and competitive activity to ensure that the company remains competitive and responsive to changes in the market.
Collaborating with other departments: The VP of Sales collaborates with other departments, such as marketing, product development, and customer service, to ensure that the sales strategy is aligned with the overall business objectives.
Reporting and analysis: The VP of Sales provides regular reports on sales performance to the executive team, analyzes sales data to identify trends and areas for improvement, and recommends strategies to improve sales results.
Overall, the VP of Sales plays a crucial role in driving revenue growth and ensuring the success of the company's sales efforts.
The cost of a full-time VP of Sales can vary significantly depending on several factors, such as the industry, company size, geographic location, and level of experience and expertise required for the role. According to Glassdoor, the average base salary for a VP of Sales in the United States is around $170,000 per year. However, this does not include other compensation such as bonuses, commissions, or stock options, which can significantly increase the total compensation package for a VP of Sales.
In addition to the base salary, there are other costs associated with hiring a full-time VP of Sales, such as benefits, payroll taxes, and recruiting expenses. These costs can also vary depending on the specific requirements of the role and the organization's policies.
It's worth noting that for small and medium-sized businesses that may not have the budget for a full-time VP of Sales, a fractional or part-time VP of Sales may be a more affordable option. A fractional VP of Sales typically charges an hourly or project-based rate, which can be more cost-effective than hiring a full-time VP of Sales.
A good VP of Sales possesses a variety of skills and characteristics that enable them to effectively manage a sales team and drive revenue growth. Here are some essential skills and qualities of a successful VP of Sales:
Sales expertise: A good VP of Sales has extensive experience in sales and a deep understanding of the sales process. They know how to develop sales strategies, build and manage sales teams, and close deals.
Leadership skills: A successful VP of Sales is an effective leader who can motivate and inspire their team to achieve their goals. They provide guidance and direction, set expectations, and hold their team accountable for their performance.
Communication skills: A good VP of Sales is an excellent communicator who can effectively convey their vision and strategy to their team. They know how to listen to their team members, provide feedback, and communicate with customers and other departments.
Analytical skills: A successful VP of Sales has strong analytical skills and can use data to make informed decisions. They track sales performance, analyze trends and patterns, and make adjustments to their sales strategy as needed.
Relationship-building skills: A good VP of Sales knows how to build strong relationships with customers, prospects, and other stakeholders. They understand the importance of customer satisfaction and work to develop long-term partnerships with their clients.
Adaptability: A successful VP of Sales is adaptable and can adjust their sales strategy to changing market conditions or customer needs.
Strategic thinking: A good VP of Sales is a strategic thinker who can see the big picture and align the sales strategy with the overall business objectives.
Overall, a successful VP of Sales possesses a combination of sales expertise, leadership skills, communication skills, analytical skills, relationship-building skills, adaptability, and strategic thinking.
VP of Sales roles can be categorized into different types based on the size and complexity of the sales organization they oversee. Here are three common types of VP of Sales roles:
SMB VP of Sales: The SMB VP of Sales oversees the sales function of small and medium-sized businesses. They typically manage a smaller sales team and focus on building relationships with smaller customers. Their responsibilities include developing and executing a sales strategy, setting sales targets and goals, managing the sales team, and analyzing market trends and competitive activity.
Mid-Market VP of Sales: The Mid-Market VP of Sales oversees the sales function of mid-sized businesses. They manage a larger sales team than an SMB VP of Sales and focus on building relationships with mid-sized customers. Their responsibilities include developing and executing a sales strategy, setting sales targets and goals, managing the sales team, and analyzing market trends and competitive activity.
Enterprise VP of Sales: The Enterprise VP of Sales oversees the sales function of large organizations with complex sales operations. They manage a large sales team and focus on building relationships with enterprise-level customers. Their responsibilities include developing and executing a sales strategy, setting sales targets and goals, managing the sales team, analyzing market trends and competitive activity, and collaborating with other departments to ensure the sales strategy aligns with the overall business objectives.
The specific responsibilities and requirements for each type of VP of Sales role may vary depending on the organization's size and industry, but the core responsibilities listed above are typically present in all VP of Sales roles.
Hiring a fractional VP of Sales (part-time or interim VP of Sales) can provide several benefits to a business, including:
Cost savings: Fractional VPs of Sales are typically less expensive than hiring a full-time VP of Sales, making them an affordable option for small and medium-sized businesses.
Flexibility: Fractional VPs of Sales can be hired for specific projects or for a set amount of time, providing businesses with flexibility in terms of their sales leadership needs.
Expertise: Fractional VPs of Sales have a wealth of experience and expertise in sales leadership and can bring new ideas and best practices to the organization.
Objective perspective: A fractional VP of Sales can bring an objective perspective to the organization, identifying areas of improvement and offering unbiased recommendations for how to improve sales performance.
Quick results: A fractional VP of Sales can quickly assess the sales operations and implement changes that lead to improved sales performance, delivering results in a shorter amount of time than a full-time hire.
Reduced risk: Hiring a fractional VP of Sales reduces the risk of making a costly mistake in hiring a full-time VP of Sales who may not be the right fit for the organization.
Overall, hiring a fractional VP of Sales can be a cost-effective and efficient way for businesses to improve their sales operations and drive revenue growth.
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